Weight Watchers Stock Plummets and Oprah Loses $27 Million –
CNN Money reports that shares of Weight Watchers dropped 30% on Friday after the lifestyle brand announced a quarterly loss of $11 million. Winfrey’s stake fell by $27 million on Friday as a side effect. The company’s latest results may be a sign that not even Oprah’s considerable celebrity star power is enough to offset its challenges.
Winfrey signed on as the face of Weight Watchers last October when she acquired a 10% stake in the company, joined its board and became a member herself.